Property Newsletter 27th Jan 2025
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RENTERS’ RIGHTS BILL TO BECOME LAW BY MARCH, CLAIMS EXPERT
The controversial Renters’ Rights Bill that will ban Section 21 ‘no fault’ evictions is hurtling through Parliament. After receiving its third reading in the House of Commons last week it quickly passed the first stage in the Lords and is to be debated again in just two weeks’ time. The pace of its progress towards becoming an act has prompted speculation that it could become law by the end of March.
?Source: https://thenegotiator.co.uk/
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CHANCELLOR TO APPLY ‘ZONING SCHEME’ AROUND COMMUTER TRAIN STATIONS TO BOOST FRAGILE UK ECONOMY AND ENCOURAGE INVESTMENT
Housebuilders will be handed swifter access to build new homes around England’s commuter train stations under the latest government plans to foster a building boom She and Keir Starmer have spent a week in frantic activity on their growth plans, including changing environmental protection rules, clamping down on judicial reviews and consulting fewer groups on major infrastructure projects. Chancellor Rachel Reeves told the Observer she would ensure a “presumption in favour of building” in areas that would give households easy access to urban centres, and businesses a greater choice of potential workers.
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Source: https://www.theguardian.com/
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WHAT WILL HAPPEN TO HOUSING SUPPLY AND AVAILABILITY IN 2025?
The underpinning issue of the housing market in 2025 remains the ongoing demand for housing. We’re facing a situation where demand continues to outstrip supply, and that will remain a significant challenge throughout the year. The UK’s population has been steadily growing and is projected to reach 73 million by 2036, compared to 63 million in 2011, and with this growth comes increased demand for housing. However, it’s not just the population’s size that’s evolving, but also its demographic makeup. We’re seeing a marked shift towards an aging population, with people over 70 expected to make up over 16% of the population within the next decade. This has significant implications for housing provision. The increase in UK net wealth since the financial crisis has been concentrated in older homeowners, with a growth in the owned outright tenure and 65% of those over 70 living in ‘under-occupied’ homes'. As well as facing into a shortage of homes for first time buyers, we’ll simultaneously see rising demand for accessible housing and retirement living options. Unlocking barriers to downsizing and meeting later life housing needs will require a new level of flexibility and forward-thinking within our sector.